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Income Tax : Explore cryptocurrency taxation in India, including tax rates, GST ambiguities, compliance issues, and the need for a clear regula...
Income Tax : The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This pro...
Income Tax : Tribunal ruled that Section 12AB(4) does not provide powers to cancel Section 12A registrations, and the notices issued were inval...
Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...
Income Tax : One of the most infamous tax evasion cases in India is the Sahara India tax evasion case, which highlights the legal implications ...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that par...
Income Tax : ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed cit...
Income Tax : ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examina...
Income Tax : ITAT Kolkata remands Mohammad Amjad Ali Sahaji’s appeal on advance tax non-payment, directing fresh consideration by CIT(A) with...
Income Tax : SC refuses to hear NewsClick’s plea under Article 32 but grants one week relief against coercive action in income tax case. Peti...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
ITAT directed the CIT(A) to re-examine the matter, taking into account the written submission filed by the assessee during e-proceedings. The ITAT emphasized the importance of affording the assessee a fair opportunity to substantiate its claims with supporting evidence.
Explore the ITAT Ahmedabad ruling in the case of DCIT vs. Amazon Textiles Pvt. Ltd., addressing disallowance under Section 14A, Rule 8D of the Income Tax Act.
Dilipkumar Jashbai Patel Vs ACIT (ITAT Ahmedabad)- Section 144C(3) r.w.s. 144C(4) Mandate AO to Conclude Assessment within One Month if Assessee Accepts Draft Order or Fails to File Objection
ITAT Bangalore held that u/s. 292C of the Income Tax Act, there is a presumption that the documents found in the possession or control of any person in the course of search, belongs to such person and contents of such document are true.
Madras High Court held that the CBDT is not empowered to fix the time limit for filing the application for compounding of offences, which is contrary to the provisions of Section 279(2) of the IT Act. Accordingly, CBDT circular dated 14.06.2019 fixing the same is liable to be struck down.
ITAT Bangalore held that assessee is eligible to avail deduction of an amount representing actual write off in the books of account of bad debts relating to nonrural/urban advances in terms with section 36(1)(vii), as proviso to the said section would not apply to non-rural advances.
ITAT Kolkata rules on upfront lease premium, corporate guarantee fee, and royalty income. Key points from ACIT Vs Britannia Industries. Full order analysis.
ITAT Delhi held that foreign commission paid by the assessee to its foreign agent for arranging of export sales and recovery of payment could not regarded as fees for technical services under section 9(1)(vii) of the Act. Accordingly, disallowance of expenditure u/s. 40(a)(i) unjustified.
Calcutta HC sets aside Section 148A(b) order for assessment year 2018-2019, citing lack of recorded reasons; directs fresh proceedings.
n Suraj Singh vs ITO, Calcutta HC rules notice under Section 148A(b) doesn’t need approval under Section 151, providing insights on the decision.
